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Utah Law Furthers Adoption of On-chain Credentials and DAOs

Utah Governor Spencer Cox has signed two bills into law aimed at supporting the innovation of developing technologies in the state. The first bill, HB 470, requires Utah's Division of Technology Services to launch a pilot program for digitally verifiable credentials on-chain in a bid to prevent the unauthorized alteration of electronic records. The second bill, HB 357, establishes that DAOs that have yet to register as for-profit or non-profit entities shall be treated legally as domestic limited liability companies. The laws follow the Utah legislature's passage of its Decentralized Autonomous Act last month and the establishment of the Blockchain and Digital Innovation Task Force earlier this month.

(By SEBASTIAN SINCLAIR)

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